charlotte houses for rent - craigslist (2024)

FAQs

Is rent high in Charlotte NC? ›

As of August 2024, the average rent in Charlotte, NC is $1,442 per month. For comparison, the national average rent price in the US is currently $1,536/month, which means Charlotte rent prices are 6% lower than the national average.

According to the real estate website, Trulia, it is more cost-effective to buy a house in Charlotte than it is to rent in Charlotte by a factor of nearly 40%.

Furthermore, Charlotte's housing market is characterized by a high demand for rental properties, especially in areas close to employment centers and urban amenities, making it a hot spot for rental property investments.

"We're really looking at demand relative to supply," Orphe Divounguy said. "And if demand grows much faster than supply, you have a lot more competition among homebuyers. And you have a hot housing market." Divounguy said Charlotte's home values continue to appreciate with the average value of around $368,000.

Using this model and data from the MIT Living Wage Calculator, SmartAsset found that a single adult in Charlotte would need an annual income of $101,338 or an hourly wage of $48.72 to live comfortably here.

With a median home price of $129,963 and a median rent of $1,249, Oakview Terrace is the most affordable neighborhood on our list. Based on the growth in home prices in Oakview Terrace over the last 3 years, it ranks No. 168 among all the neighborhoods in Charlotte.

#1: Rocky Mount. With a median home sale price of $217,500, Rocky Mount lands the number one spot on our list as the most affordable place to live in North Carolina. There are about 54,400 residents living in this mid-sized city.

There are many things to love about living in Charlotte, but its affordable cost is the best! The city's cost of living is 1% lower than the national average, while cost of housing is 2% lower than the national average. In fact, the median home price in Charlotte is $178,000, and the median monthly rent is $966.

Family-centric neighborhoods feature excellent school districts, plenty of parks, and low crime rates. They are also convenient to hospitals, grocery stores, and amenities and activities appropriate for children. The best neighborhoods for families in Charlotte are Ballantyne, Dilworth, and Providence Plantation.

How much money do you need to buy a house in Charlotte NC? ›

To give context, a typical household only brings in about $81,000, Zillow researchers say. Homebuyers in Charlotte need to make $111,051 to afford a mortgage, which is nearly double what it was four years ago: Income needed to afford a mortgage in 2024: $111,051. Change in needed income since 2020: $55,239.

Assistance for new homebuyers

Housing is considered affordable if a family spends no more than 30% of their income to live there. See area median income limits for Charlotte.

CHARLOTTE, N.C. (QUEEN CITY NEWS) — A new report from realtor.com shows Charlotte rent prices are falling at a faster rate than many major cities. The data shows that the average 2024 rent price dropped 5.2 percent from the average 2023 prices.

Seriously and severely unaffordable. Report rates Charlotte and Raleigh housing markets. Housing unit shortage, plus newcomers with deep pockets, have made homes in biggest NC metro markets too costly for many people.

Of the most expensive metros, five in North Carolina ranked among the top overpriced areas: Charlotte, Durham, Winston-Salem, Greensboro and Raleigh.

Cost of Living in Charlotte

Charlotte's overall cost of living is 2% lower than the national average. The cost of living is based on factors such as your income, the real estate market, and many other things. In addition to the cost of living, the median household income in Charlotte is about $68,367 a year.

Rent control is not legal in North Carolina. State law prohibits any local government from enacting or enforcing rent control ordinances, making it clear that all rent regulation measures are off-limits within the state.

In broad terms, North Carolina is considered a landlord-friendly state, but that doesn't mean tenants don't have legal rights and protections, too. Understanding landlord-tenant rights is essential whether you're a landlord, property manager, or tenant.